Oyston responds: Club is well-placed for future

For the 2014/15 season (still in the Championship) turnover was £18m and profit £7.5m. With regards to the financial performance, were you pleased or otherwise and why?

At no point is the club’s financial performance pleasing when you factor in the disappointing results on the field. Only success on the pitch, coupled with strong financial results, can bring satisfaction.

That turnover included the last of the parachute payments. How did that last payment help the club and how is the club planning to cope in the coming seasons without that extra cash?

Since my appointment in 1998, the club has endeavoured to establish a resilient asset-based business that is not wholly reliant on the vagaries of football.

To an extent the club, with its strong asset base, non-football income and positive cash balances, can ride out for long periods of reduced income. The club is well placed for the future with its strong cash reserves, coupled with the austerity measures recently put in place.

Last season the club was the second-highest spender on transfer fees in the division and whilst the supporters and club’s board are devastated to be beginning life in League Two, we maintain the ability to strengthen and support the manager, as we have done in the past.

The loans to Segesta rose slightly to £28.2m. What were the reasons for this as some fans suggest all the money should be kept in the club itself to help maintain its position at the top end of the league system?

Throughout my family’s ownership of the club we have heavily invested in and supported a club that sits alongside a group of companies. Segesta, Blackpool Football Club’s parent company, has invested heavily in the stadium via loans from Blackpool Football Club.

The club’s strong cash reserves and ability to support enhancements to the playing squad are not hampered by the relationship between Segesta and the Football Club.

That season got off to a bad start with just a handful of players registered and no manager.

With the wonders of hindsight was there anything you could have done differently at that point or subsequently as the season went on to avoid the problems that caused?

Whilst reluctant to further discuss the disastrous 2014/15 season, it still rankles that the promises made during the managerial interview and recruitment process were not delivered upon in the player recruitment phase.

I regret not immediately acting to rectify the worst managerial appointment I have made during my time at the club.

Finally what are the plans for the coming season and the long-term strategy for the club?

The planning process for the coming season has gone well and whilst the manager has indicated that he’d still like to bring in further players to strengthen key areas, we feel the club is internally returning to a more stable and purposeful unit.

We are working towards dealing with many of the more recent and contentious issues though, so that we can once again wholly focus on football and once again become a successful team on the pitch.